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Ki cut its top line by 8.7%, while Beazley’s smart-tracker expanded to $481mn. -
Results were impacted by prior year reserving and an unwind of intragroup reinsurance recoveries.
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Most of the market’s largest syndicates kept their CoRs below 90% as prices remained adequate.
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The executive said the market would be updated on progress in late April.
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MAP’s Christopher Smelt said impact on nationwide programmes will cause risk aversion.
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Reinsurance and property remained the primary drivers of premium growth.
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The MGA’s GWP hit $4.6bn as the CEO labelled aviation all-risks rates “woefully inadequate”.
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The Corporation’s CFO hailed profitable growth but warned syndicates to maintain discipline.
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Syndicate 1984 is set to begin underwriting next month.
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Stuart Cheers-Berry was delegated underwriting authority controller at PoloWorks.
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The binder will provide capacity for international fac property, power and onshore energy.
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The proportion of women in lead underwriting roles still trails other leadership positions.
